Global Virtual Data Room Market is valued approximately USD 1.71 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 14.9 % over the forecast period 2021-2027. Virtual data room is an online archive used to store and transfer data virtually. This centralized storage system is used by companies to exchange confidential information, which can be accessed from anywhere through a secured network. The increasing demand of risk and data management for the increasing amount of data is a great driving factor. Along with that, rising digitalization and increasing numbers of organizations are also driving the growth of virtual data room. The physical data rooms are replaced by virtual data rooms as they can be easily accessed and controlled, increasing the efficiency and security, and reducing the cost of storage of data. As per the article published by Analytics Insight, in 2020, it is estimated that the use of public cloud end user spending will grow from $257.5 billion in 2020 to $304.9 billion in 2021. However, cyber-attacks and data breach makes the virtual data rooms not safe for exchange of highly confidential information and lack of skilled workforce hampers the growth of the market over the forecast period of 2021-2027. Also, increasing cyber security, fast and effective flow of information and technological development will contribute to faster growth of virtual data room growth during the forecast period.
The geographical study of the Global Virtual Data Room Market includes Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America holds the highest numbers of market share across the world because of the presence of large number of companies and organizations and increasing cyber security. Whereas, Asia-Pacific is also anticipated to exhibit highest growth over the forecast period 2021-2027. Factors such as increasing numbers of startups, growth of real estate sectors and technological advancements are some of the great opportunities for virtual data room market across Asia-Pacific region.
Major market player included in this report are:
Intralinks Holdings, Inc.
FirmRoom
iDeals Solutions Group
Firmex Inc
SecureDocs, Inc.
Onehub Inc.
DealRoom Inc.
Datasite
SmartRoom (BMC Group)
Brainloop AG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Solution
Services
By Deployment Type:
Cloud-based
On-premise
By Enterprise Size
Large Enterprises
SMEs
By Business Function
Marketing and Sales
Legal and Compliance
Finance
Workforce Management
By Vertical
BFSI
Corporates
Healthcare and Life Sciences
Government and Legal and Compliance Agencies
Real Estate
Industrial
Energy & Utility
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Virtual Data Room Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors